Amazon completes acquisition of Indian lender Axio, expands fintech push
Amazon has finalized its acquisition of Bengaluru-based non-banking lender Axio, giving the e-commerce giant direct access to India’s lending business. The deal, first announced in December, received approval from the Reserve Bank of India in June.
Axio, a 12-year-old fintech company, provides digital credit and money management solutions for both retail consumers and small businesses. The firm has partnered with Amazon since 2018 to offer pay-later and credit products, News.Az reports, citing foreign media.
With the acquisition, Amazon plans to roll out new loan and credit offerings on its platform, including checkout financing, while exploring opportunities “beyond Amazon,” said Mahendra Nerurkar, Amazon’s vice president for payments in emerging markets.
The move gives Amazon a non-banking financial company (NBFC) licence, allowing it to lend directly—a more profitable model compared to partnerships with banks, which rivals like Flipkart have long relied on. Flipkart secured its own NBFC licence earlier this year through Flipkart Finance.
Axio will continue operating as a separate entity but become a wholly owned Amazon subsidiary in India, co-founder Gaurav Hinduja confirmed. The firm reported a loan book of about 22 billion rupees ($251 million) for the quarter ending June.
The deal strengthens Amazon’s growing fintech presence in India, where it already runs Amazon Pay, offers insurance policies, and holds approval to issue digital wallets. Amazon Pay ranked as the ninth-largest player on India’s UPI payments channel in July 2025, according to the National Payments Corporation of India.
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